MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis of NZD/USD for October 23, 2014

NZDUSDM30.png


Fundamental overview:


NZD/USD is expected to trade in a lower range. It is undermined by the lower-than-expected New Zealand 3Q CPI of +0.3% on-quarter (versus forecast +0.5%), the positive USD sentiment (ICE spot dollar index last 85.75 versus 85.39 early Wednesday) as U.S. Treasury yields inched higher (10-year at 2.219% versus 2.208% late Tuesday) after U.S. September CPI rose 0.1% in line with expectations, calming fears about the spread of deflation, Kiwi sales on buoyant AUD/NZD cross and Kiwi sales on soft NZD/JPY cross amid increased investor risk aversion. But NZD/USD losses are tempered by the NZD-USD interest differential.


Technical comment:

Daily chart is mixed as MACD is bullish, but stochastics is turned bearish at overbought zone.


Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short position is recommended with the first target at 0.7805. A break of this target will move the pair further downwards to 0.7775. The pivot point stands at 0.7885. In case the price moves in the opposite direction and bounces back from the support level, then it will move above its pivot point. It is likely to move further to the upside. In that scenario, a long position is recommended with the first target at 0.7915 and the second target at 0.7955.


Resistance levels:

0.7915

0.7955

0.7985



Support levels:


0.7805

0.7775

0.7735


The material has been provided by InstaForex Company - www.instaforex.com